Sharjah’s real estate market has witnessed remarkable growth in 2024, with a total transaction volume reaching AED 40 billion, marking a 48% increase compared to 2023. This is the highest trading volume in the emirate since 2008, reflecting the growing interest from international investors across diverse nationalities.
Abdulaziz Ahmed Al Shamsi, Director-General of the Sharjah Real Estate Registration Department, attributes this achievement to the dynamic investment climate in Sharjah, which continues to attract investors globally. He emphasized that Sharjah’s stable economy, infrastructure developments, and support from the leadership have all played a significant role in boosting the real estate sector.
The emirate has been successful in attracting investors from 120 different countries, a notable increase from 103 nationalities in 2023. Al Shamsi highlighted the increasing demand for various types of properties, including title deeds, sales, and real estate project units, with public interest in development projects driving further growth.
One of the key factors contributing to the real estate boom is the population growth in Sharjah, coupled with large-scale investments in infrastructure, such as roads and public facilities. This has enhanced Sharjah’s appeal as a hub for both residential and investment properties.
In terms of nationalities investing in Sharjah real estate, Emiratis lead with AED 19.2 billion, making up 48% of the total. Investments from other Gulf countries amounted to AED 2.3 billion, while Arab citizens contributed AED 7 billion. International investors brought in AED 11.5 billion, reflecting Sharjah’s increasing global appeal.
The number of properties traded also saw an uptick, reaching 45,676 in 2024, compared to 31,229 in 2023. The diverse range of real estate offerings and the opportunity for non-citizens and Gulf nationals to own property have been key drivers in this surge.
Mortgage transactions for 2024 amounted to AED 10 billion across 2,558 deals, with Muwailih Commercial, Umm Fanain, Tilal, and Al-Khan areas leading in volume. Additionally, usufruct sales reached AED 1 billion with notable activity in Muwailih Commercial and Umm Fanain.
Sharjah’s real estate market continues to thrive with a range of development projects. In 2024, 14 new projects were registered, including complexes and towers across residential, commercial, and industrial sectors. To meet the rising demand, 25 projects licensed for ownership by all nationalities have been approved, with 8 new projects gaining approval in 2024.
This impressive growth is expected to continue into 2025, further solidifying Sharjah’s position as a leading real estate destination in the region.
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